Saturday, April 18, 2009

Dire Wolf - Saint of Circumstance? Chris Dodd Comes Into His Own

Dire Wolf - Saint of Circumstance ** DONATIONS NEEDED ** I usually don't mention the economic circumstances surrounding the provision and maintenance of this blog, but today I'd like to ask any interested readers who aren't unemployed or poor themselves to consider making a donation to me in a time of dire need. I won't go into the personal details of what makes me ask this favor at this time, but please know that if it hadn't been for a very few readers making donations in the past two years since I've been writing about our trying economic times, I would not be here trying to shed some light on our current catastrophic predicament and provide a much-needed forum for discussion of it. Thank you so much to the readers who have made donations to me in the past. Most months I am very lucky to receive more than one, but that's not so bad in that it has given me the hope that some day there may be more people who want to read this type of economic analysis and perhaps even add to the store of it in a place that welcomes all opinions. Yes, I am still unemployed although continuing to think positive thoughts as I apply for any job that comes into view. Thank you for being out there, for all your emails and comments and understanding notes (and CD's and love letters, etc., no, seriously). I think my readers are my friends of consciousness and wouldn't know how to live my life today without them. Thank you. And now back to the regularly scheduled programming . . . . Chris Dodd, past Democratic presidential candidate, dependable Democratic vote (well, for some Democrats) is in big trouble over his past political/economic history of donations and votes for entities that turn out to have reaped when he sowed (and then sowed back to him?). Of course, if everybody's involved (and the name Guiliani keeps popping up here too), who can want to punish one of the good guys? Or is he? Or maybe the question of the hour is: is anyone left who is? And when you consider who his father was and the redemption he's been seeking (like Ahab for the white whale) for him for lo these many years . . . .

As Senator Chris Dodd fights for his political career, the embattled chairman of the powerful Senate banking committee is receiving his own economic rescue package from the finance industry. According to the five-term senator's latest campaign disclosures, filed earlier this week, the financial sector is flooding Dodd's campaign war chest with donations in advance of what is expected to be a tough reelection bout. Dodd, who's had a rough year, can certainly use all the support he can get. Last summer, the news broke that he had received two sweetheart loans through subprime lender Countrywide's "V.I.P." program. And in March, Dodd first denied and then later admitted that he had inserted language into the economic stimulus bill that would allow AIG executives to keep their bonuses. Amid accusations that he has grown too chummy with the industries he oversees as head of the banking committee, Dodd has seen challengers to his 2010 reelection crop up on his left and his right. Recent polls show him with a popularity rating of just 33 percent in Connecticut, losing in hypothetical matchups with three different Republicans. Political handicappers consider him the most vulnerable Democratic incumbent in the Senate; the GOP is raring to pick him off. Despite his waning appeal in Connecticut, Dodd's fundraising effort picked up steam in the first three months of 2009. He raised just more than $1 million during the quarter, according to federal campaign disclosure records. Almost a third of that money—at least $299,000—came from banking and investment executives, financial industry trade groups, and finance-oriented political action committees (PACs). An additional $68,000 came from lobbyists, many with clients on Wall Street. And that doesn't count the formidable financial support Dodd has received from insurance and health care interests. It's not unusual for the chairman of an influential committee to haul in loads of campaign cash from the businesses that are within his committee's jurisdiction. But with his future in the Senate in jeopardy, Dodd truly has to rely on his supporters in the industries he oversees, all while presiding over key components of the various financial bailouts currently under way. That is, he's pushing the envelope when it comes to Washington's pay-to-play routine.
Wish you had been on that gravy train? It's shameful how many still wish it. With all the consequences it has wrought. Rich people. You gotta love 'em. Suzan _________________


Mr. Natural said...

Suzan, I'm a 62 year old veteran hippie type guy, and I have NEVER trusted rich people. They don't DO anything but manipulate money, thereby manipulating the lives of the little people (us).

Love 'em? Not me, I have never met a banker who I would care to go fishin' with.

Suzan said...

I'm with you, Sir Natural,

I guess my ironic tone is hard to discern over the tubes.

I was actually having a laugh at their expense as they swan by, trailing stolen dollars, swathed in their Piagets and non-faux fur, thinking they are all that.

More irony. You can't make fun of those guys. They don't get the joke, and it's up to us to ensure that everyone does.

Thanks for straightening me out.